To think we CAN live on the mortgage

Wow, I am amazed at the number of people that have come on to just right a sarcastic or bitter comment.

I think it is good that you are not complacent about your income/outgoings.
It’s daunting to go from living in a flat to a house with higher mortgage and bills.
It also sounds like you have gone from having a large amount of savings to a smaller cushion, so I can understand where you concern about affordability comes from.

Make a list of ALL your outgoings- these things add up. Include buildings/contents insurance, car insurance/MOT/fuel, mobile contracts, gym membership, streaming services, lunches during the working week, holiday budget etc as well as the bills.

Get financial advice re: critical illness, income protection, life insurance to cover mortgage and income should either of you become ill, need long term care or die. Look into the terms.
These can cost but, as with all insurance, you pay these with the hope of never needing to claim.

Also guys if this post is in poor taste for you, just ignore it. There would always be economic disparities among us. No need to hate on someone for earning more than you even you think they don’t deserve it.

Kingston is not London though, and London is generally cheaper. Ours is I think £131a month.

OP once your kid finishes nursery I'd get into a habit of putting the equivalent sum saved into investments. Best way to build a future buffer. We did this and are getting decent interest income now, 3 years in.

@JaneEyre40 was asking for advice and re-assurance from people who have made similar decisions. She clearly stated she'd done her budget and I'm sure had got mortgage advice from an IFA or broker.

There is absolutely nothing wrong with seeking opinions and re-assurance for a big decision like this - especially on a large anonymous forum. It may not be appropriate for her to discuss it with anyone in real life or she may not want to for privacy reasons.

FGS - between the thread yesterday full of privileged knobs being an arse to the OP and this one full of jealous snobs it feels like MN has become some modern day version of Pride and Prejudice.

No wonder there is so much animosity among people these days if the reactions here are anything to go by!

With such high income and plenty of savings available to you I would suggest you pay for proper advice that takes into account real evidence like your previous spending, rather than asking random strangers on the internet to make a guess based on minimal info…

They are OK, I do eat them. I thought it was an odd comment to make that's all.

£10000 a MONTH??? That was my yearly income! I would think you can afford anything,why even ask,its like rubbing those with normal wages noses in it.

Sorry I’m not much use here but unlike all the jealous people on here, I want to know what you do for a living, maybe it’s not too late for me to retrain ….🙃

Not as stupid as the people who don't bother reading all of the brightly coloured OP posts and seeing that you clearly said later on that the difference was because of bonuses 😉😂

Mine is £2994 (band E). Shit town in the Midlands.

Also, a smaller mortgage and eat more than sweet potato and veg.

Didn't anybody else read that?

Compare with not a million miles away Kingston Band E at £2280.

@JaneEyre40 Just on the marriage front.

There is no way I would be making such a huge purchase without getting married or having absolutely watertight legal parameters in place should the relationship breakdown.

Depending on how long your mortgage is for, don’t forget that DC can get more expensive before they get cheaper. We are currently subsidising our older son to the tune of £1000 per month as he goes through university, with DC2 soon to follow. Driving lessons, sports clubs, music lessons etc. All are obviously discretionary, but one of the things I have found, on an income similar to yours, is how ludicrous it feels to not have money to do those things because you’ve spent too much money on a house. Our basic outgoings, with an interest only mortgage of £1605 per month, are £5000 per month - mortgage, council tax, water, fuel, insurance on two not particularly smart cars, etc. So you are right to think carefully.

Another thought, have you based your mortgage on standard 25 year term? We took out a 35 year mortgage that allowed overpayments up to a certain amount each year. We were paying as if it was 25 years, knowing that we were building up an emergency buffer (and saving on interest if we manage to repay in 25 years). We knew that if times were tough we could easily put the payments back down to the scheduled amount.

She’s the one spitting at everyone they are jealous of her? I was just responding to that. Having to pay London’s rip of housing prices with a stressful job isn’t something most people are jealous of.

I think it's doable. You sound sensible and will just have to keep an eye on finances - you have a good chunk of disposable income. As a few pp have mentioned, house bills and maintenance will no doubt be a lot more than now, and quite unpredictable so put some money aside for that. It sounds like you are happy to spend on the house and prepared to spend to keep it nice rather than a lot on socialising/holidays. Hope it works out for you!

Good for you. You live your life how you want, and the OP can live her how she wants. Great stuff. Everyone’s happy